Good news lined up for the contractors, State bank of Travancore has launched a new scheme for the contractors. To provide the easy loan facilities to the contractors SBT has launched the scheme SBT contractor plus, that will assist contractors in getting loan to easily for various purposes.
All the contractors and sub contractors undertaking works on behalf of Central and State departments and multinational organisations are eligible. Under this plan the bank will be providing loan up to Rs 1 crore without collateral security, further it has been also reported that scheme will provide flexible terms and competitive rates to the customers. This is a very helpful scheme for the contractors providing term loans to them for purchase of construction equipment